BW LPG sells Levant for $38 million

• BW LPG (NYSE:BWLP) announced the sale of the 2015-built BW Levant maritime vessel.
• The transaction is expected to generate approximately $38 million in net cash proceeds for the company.
• Management stated the sale supports an ongoing strategy of active fleet renewal and opportunistic asset management.

BW LPG (NYSE:BWLP) agreed to sell the 2015-built BW Levant for an expected $17 million net book gain.

The company originally acquired this vessel during the 2024 Avance Gas transaction just two years ago.

The buyer is scheduled to take delivery by mid-November, triggering approximately $38 million in net cash proceeds.

Following the announcement, BW LPG's share price was down at $20.37.

The company stated it expects to continue generating operational revenue from the asset before the final handover.

Management noted this transaction aligns with their ongoing strategy of active fleet renewal and asset management.